Montello Prepares Site for Drilling John Bowen #3 Exploratory Well in Tennessee

CALGARY, ALBERTA--(Marketwire - Feb. 14, 2008) - Montello Resources Ltd. ("Montello")(TSX VENTURE:MEO) is pleased to announce that the drilling of an upcoming John Bowen #3 test well is expected to commence as early as March, 2008. Site preparations are already underway on a strategic 190-acre land package that Montello has recently negotiated the right to drill. These leases constitute an offset location to the John Bowen #2 Test Well.

Montello President, Bill Cawker, says: "Montello has already gathered and evaluated certain key geological information from the yet-to-be-completed John Bowen #2 Under-Balanced test Well, which can be tactically applied to the drilling of an offset exploratory well on adjacent land leases."

"Our geologists are confident moving forward. However, our technical understanding of this over-pressured geological environment has come at a hefty cost. The overall cost of the John Bowen #2 Well including land acquisition costs now exceeds U.S. $9 million, which is far more expensive than the drilling syndicate had ever foreseen.

"In fact, the John Bowen #2 well proved to be one of the most technically challenging wells that our veteran drilling team and consultants had ever experienced anywhere in the world. However, we succeeded in overcoming a number of geological challenges to reach a total depth at 9,557 feet. Notably, this historically represents one of the deepest cased test wells ever undertaken in the state of Tennessee."

The much-anticipated logging evaluation process of the John Bowen #2 Well will be undertaken at the earliest opportunity, even though it was originally scheduled for mid January, 2008. Financial considerations have played a role in this delay. The partnership is in the final stages of completing payment of outstanding drilling expenses that are now less than $1 million.

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